Mackenzie Financial Corp Purchases 6,886 Shares of Jackson Financial Inc. (NYSE:JXN)

Mackenzie Financial Corp raised its position in Jackson Financial Inc. (NYSE:JXN) by 47.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,282 shares of the company’s stock after purchasing an additional 6,886 shares during the quarter. Mackenzie Financial Corp’s holdings in Jackson Financial were worth $1,090,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Jackson Financial by 16.1% in the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock valued at $417,868,000 after purchasing an additional 1,518,547 shares during the last quarter. Hsbc Holdings PLC raised its position in Jackson Financial by 45,699.9% in the third quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock valued at $124,043,000 after purchasing an additional 3,234,184 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Jackson Financial by 38.9% in the third quarter. Bank of New York Mellon Corp now owns 1,129,288 shares of the company’s stock valued at $43,161,000 after buying an additional 316,158 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Jackson Financial by 38.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 985,691 shares of the company’s stock valued at $37,673,000 after buying an additional 273,422 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Jackson Financial by 11.9% in the third quarter. American Century Companies Inc. now owns 961,875 shares of the company’s stock valued at $36,763,000 after buying an additional 102,671 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Stock Up 1.5 %

JXN stock opened at $70.60 on Thursday. Jackson Financial Inc. has a twelve month low of $26.70 and a twelve month high of $70.97. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $61.20 and its 200-day moving average is $51.76. The firm has a market capitalization of $5.47 billion, a PE ratio of 7.20 and a beta of 1.57.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $5.66 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts expect that Jackson Financial Inc. will post 15.95 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 12th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.97%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, March 11th. Jackson Financial’s payout ratio is presently 28.54%.

Insider Activity at Jackson Financial

In related news, Director Derek G. Kirkland acquired 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the purchase, the director now owns 37,726 shares in the company, valued at approximately $2,100,206.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Jefferies Financial Group reissued a “hold” rating and issued a $55.00 price target on shares of Jackson Financial in a research note on Tuesday, January 2nd. The Goldman Sachs Group increased their price target on Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, Evercore ISI increased their price target on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Jackson Financial has a consensus rating of “Hold” and an average price target of $61.80.

About Jackson Financial

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.